Spreadsheet?? What do you use to keep track?!

5 Replies

Hey Everyone!

So my wife and I are new to this but we are excited to close in just a couple weeks on our first rental property! It will be a BRRRR project. Right now I'm looking for input on keeping track of rental expenses and income as well as tracking expenditure during the rehab/purchase process. What are some good spreadsheets you use or where do I find good ones? Or what program?? I just want to do this right and have my ducks in a row from the word go!!

Any and all help is appreciated!!

I use software that tracks income/expenses from my LLC, properties, units, and even down it each lease. Also can track expenses on repair projects and turnovers. Then it sums all those number up at each level so I know how each piece is doing.

Originally posted by @Billy Linn :

I use software that tracks income/expenses from my LLC, properties, units, and even down it each lease. Also can track expenses on repair projects and turnovers. Then it sums all those number up at each level so I know how each piece is doing.

What software are you using?

 

In the last couple years my wife and I acquired more rentals and our spreadsheets were getting hard to manage. I couldn't find any software that would do what I explained above so I made my own. I'll show it to you if your interested but it's still not easy. If you don't keep on top of your expenses they'll pile up and you'll have a mess on your hands come the end of the year. It's awesome if you make it a habit to record things as they happen, no matter what you use to do it. We had a really hard time with that because we're so busy, but once we started to do it... wow. It's so great to have everything in one place so when you need a document, some numbers, or to remember something you can find it right away.

Until two years ago I simply used Quicken and created my own categories.  This worked fine for 4 multi’s until I went to Quickbooks recently as my bookkeepers use the online version. 

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